Vornado Realty Trust (NYSE:VNO) Receives Consensus Rating of “Reduce” from Brokerages

Vornado Realty Trust (NYSE:VNO) has been assigned a consensus recommendation of “Reduce” from the eleven analysts that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $24.27.

Several research analysts have recently weighed in on the stock. Morgan Stanley raised shares of Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $24.00 to $26.00 in a report on Thursday, March 28th. Compass Point dropped their target price on shares of Vornado Realty Trust from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. BMO Capital Markets dropped their target price on shares of Vornado Realty Trust from $31.00 to $29.00 and set a “market perform” rating for the company in a research report on Wednesday, June 12th. Barclays decreased their price target on shares of Vornado Realty Trust from $22.00 to $21.00 and set an “underweight” rating on the stock in a research note on Friday, May 24th. Finally, Scotiabank decreased their price target on shares of Vornado Realty Trust from $24.00 to $23.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 16th.

Institutional Investors Weigh In On Vornado Realty Trust

A number of hedge funds have recently modified their holdings of VNO. Norges Bank purchased a new stake in shares of Vornado Realty Trust in the fourth quarter valued at about $489,922,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Vornado Realty Trust in the third quarter valued at about $132,326,000. Deutsche Bank AG grew its holdings in shares of Vornado Realty Trust by 141.9% in the third quarter. Deutsche Bank AG now owns 4,238,442 shares of the real estate investment trust’s stock valued at $96,128,000 after purchasing an additional 2,486,439 shares during the period. Rush Island Management LP purchased a new stake in shares of Vornado Realty Trust in the third quarter valued at about $27,901,000. Finally, Nomura Holdings Inc. grew its holdings in shares of Vornado Realty Trust by 2,410.2% in the fourth quarter. Nomura Holdings Inc. now owns 973,035 shares of the real estate investment trust’s stock valued at $27,488,000 after purchasing an additional 934,271 shares during the period. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Trading Up 0.1 %

Shares of VNO opened at $25.43 on Monday. The firm’s 50-day moving average price is $25.32 and its 200-day moving average price is $26.55. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 169.54 and a beta of 1.59. The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 1.81. Vornado Realty Trust has a 1-year low of $14.46 and a 1-year high of $32.21.

About Vornado Realty Trust

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.